# Bitwise Files for 11 Single-Token Crypto Strategy ETFs, Targeting Major Altcoins in Expansion Push

Bitwise Asset Management has submitted applications to the Securities and Exchange Commission for 11 single-token “strategy” exchange-traded funds, marking a significant expansion of its crypto product suite into the altcoin market. The move represents one of the most ambitious attempts by a major asset manager to capture the growing institutional demand for targeted altcoin exposure through regulated investment vehicles.

The filing comes at a pivotal moment for crypto ETFs, with Bitcoin exchange-traded funds having demonstrated substantial institutional adoption throughout 2024 and 2025. However, the market has shifted dramatically in recent months, with significant outflows totaling approximately $952 million in a single week earlier this month, reflecting heightened institutional caution amid regulatory uncertainty and macro headwinds.

Litecoin, trading at $77.83 with a modest 24-hour decline of 0.14%, exemplifies the current state of major altcoins that could benefit from dedicated ETF products. Despite the recent weakness, LTC has gained 3.29% over the past week, maintaining its position as the 19th-largest cryptocurrency with a market capitalization of $5.97 billion. The token’s 24-hour trading volume of $317 million demonstrates sustained interest, though it represents just 0.20% of the total 317 million d‘s dominance.

The timing of Bitwise’s filing reflects a calculated bet on the maturation of crypto regulation. The EU’s Markets in Crypto-Assets (MiCA) regulation, which began phasing in during 2024, has created a template for comprehensive digital asset frameworks. This regulatory clarity has emboldened institutional players to develop more sophisticated products targeting specific blockchain ecosystems and tokens.

Single-token strategy ETFs would address a critical gap in the current crypto investment landscape. While Bitcoin and Ethereum ETFs have captured the largest institutional flows, many pension funds, endowments, and corporate treasuries seek targeted exposure to specific blockchain networks like Solana, Cardano, and Avalanche without the operational complexity of direct token custody.

The filing comes as Layer-1 tokens have broadly underperformed despite significant infrastructure developments throughout 2025. Total value locked across major blockchain ecosystems increased substantially, yet most large-cap Layer-1 tokens finished the year with negative or flat returns. This divergence between technical progress and price performance suggests institutional demand for targeted exposure could provide critical price support for established altcoins.

Bitwise’s strategy appears designed to capture what industry analysts identify as the next wave of crypto institutionalization. Corporate treasuries have demonstrated increasing sophistication in their digital asset allocation strategies, with companies like Strategy continuing to accumulate Bitcoin positions even during market volatility. This corporate adoption pattern typically precedes broader institutional acceptance of alternative digital assets.

The regulatory environment has become increasingly favorable for such filings. The Commodity Futures Trading Commission recently issued guidance opening doors for digital asset collateral, while SEC enforcement actions have decreased significantly compared to previous years. This regulatory shift creates a more predictable environment for complex financial products tied to crypto assets.

Market conditions present both opportunities and challenges for the proposed ETFs. The global cryptocurrency market, valued at nearly $3 trillion, maintains Bitcoin’s dominance at 59.1%, but this concentration creates opportunities for diversification products. Institutional investors seeking exposure to specific blockchain use cases—such as smart contract platforms or payment networks—would benefit from dedicated vehicles rather than broad-market crypto funds.

The success of these single-token ETFs will largely depend on fee structures and institutional adoption rates. Current crypto ETF flows demonstrate that institutional money moves quickly based on regulatory clarity and macro conditions. The recent $952 million weekly outflow from Bitcoin and Ethereum ETFs illustrates how institutional sentiment can shift rapidly, creating both risks and opportunities for new products.

Looking ahead to 2026, the crypto ETF landscape appears poised for significant expansion. The groundwork laid through regulatory clarity and institutional infrastructure development in 2025 positions single-token products as a natural evolution of the market. However, success will require careful attention to liquidity management and institutional distribution partnerships.

Bitwise’s filing represents a strategic recognition that the next phase of crypto institutionalization will involve targeted exposure to specific blockchain ecosystems rather than broad market beta. The company’s established track record in crypto asset management positions it well to capture institutional flows seeking sophisticated altcoin exposure through regulated vehicles.